Corteva (NYSE:CTVA) Upgraded by Vertical Research to “Buy”

Vertical Research upgraded shares of Corteva (NYSE:CTVA – Get Rating) from a hold rating to a buy rating in a report published on Monday morning, The Fly reports. The brokerage currently has $67.00 price target on the stock.

A number of other equities analysts also recently weighed in on the stock. KeyCorp cut their price target on shares of Corteva from $72.00 to $70.00 and set an overweight rating on the stock in a research note on Friday, February 3rd. OTR Global downgraded shares of Corteva to a positive rating in a research note on Wednesday, March 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Corteva from $75.00 to $68.00 in a research note on Monday, May 8th. Wells Fargo & Company cut their price target on shares of Corteva from $78.00 to $77.00 and set an overweight rating on the stock in a research note on Friday, February 3rd. Finally, Oppenheimer started coverage on shares of Corteva in a report on Thursday, April 6th. They issued a market perform rating on the stock. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $72.53.

Corteva Trading Down 0.2 %

Shares of Corteva stock opened at $56.86 on Monday. Corteva has a fifty-two week low of $50.03 and a fifty-two week high of $68.43. The firm has a market cap of $40.42 billion, a PE ratio of 35.10, a P/E/G ratio of 1.27 and a beta of 0.78. The business’s fifty day moving average is $59.22 and its two-hundred day moving average is $61.42. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.05.

Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.23. Corteva had a return on equity of 8.03% and a net margin of 6.64%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts anticipate that Corteva will post 2.99 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, May 31st. Corteva’s payout ratio is 37.04%.

Institutional Trading of Corteva

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Bridge Advisors increased its position in shares of Corteva by 0.8% in the 3rd quarter. Tower Bridge Advisors now owns 18,514 shares of the company’s stock worth $1,058,000 after purchasing an additional 150 shares during the last quarter. Kingsview Wealth Management LLC grew its position in shares of Corteva by 2.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock valued at $438,000 after buying an additional 153 shares during the last quarter. Resources Investment Advisors LLC. grew its position in shares of Corteva by 3.5% during the 3rd quarter. Resources Investment Advisors LLC. now owns 4,567 shares of the company’s stock valued at $261,000 after buying an additional 155 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in shares of Corteva by 3.5% during the 4th quarter. Great Valley Advisor Group Inc. now owns 4,710 shares of the company’s stock valued at $276,000 after buying an additional 158 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Corteva by 4.4% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,985 shares of the company’s stock valued at $228,000 after buying an additional 168 shares during the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.

Corteva Company Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.